Metavante Acquires Gift Card Provider

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MILWAUKEE – Metavante announced it has acquired Valutec Card Solutions Inc., a Franklin, Tenn.-based gift card supplier and processor. The deal gives Metavante's financial institution clients the ability to offer merchant-branded cards and services to their customers. Valutec has more than 13,000 merchants in its client network. Terms of the deal were not disclosed. Metavante is a unit of Marshall & Ilsley, a bank holding company.

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